Lies, Deceit, and Denial

I think most people lie because it is more convenient to lie. It makes you look like the hero. Who cares if it is not based on truth, It is all about the perception right? At least that must be the mindset of the gurus. It is harder to tell the truth especially when it puts your past statements in question. One reason for this is because the truth is not always well received. People judge you because you are messing with their comfort zone. They question your motives and find ways to discredit you. Anyone who has been truthful without agenda, impartial without taking sides has experienced this. Even though the truth brings conflict and it may be harder to tell there is freedom in it. There is bondage in lies and deceit. Yet I think that people sometimes like being in bondage or just maybe they don’t know they are even in it.

In my last article I talked about how pegged rates worked. I talked about how Iraq is using the U.S. dollar as a reserve for the dinar. I talked about the amount of currency in circulation and how the amount of reserve dictates the revalue. I talked about how they can’t raise the value of the dinar drastically without acquiring a vast amount of additional reserves.

The type of feedback I got was interesting be it email or comments. I was actually accused of working for the dealers. I get that a lot.  Apparently some people think I talk bad about the dinar in an effort to get people to sell their dinar back to the dealers so they can resell it to other people. I then supposedly get a kickback for dinar that people sell to dealers. Anyone who believes this has got to know that this is denial on steroids. At least on their part

So let me be clear about my stated goals and desires concerning the dinar so there are no misconceptions.

1. If you are considering making your first dinar purchase, It is my hope that the factual information on this site regarding the dinar currency will make you decide otherwise.

2. If you have the dinar it is my desire to inform you that you have been told lies in an effort to sell you more. These lies amount to nothing less than fraud! I will give you examples shortly. But in the very least I hope you do not buy anymore

3. I would like to see dinar sales totally and completely shut down by the US government. I would like to see them prosecute certain dealers who have a money service business license to sell dinar based on the fact that they are marketing it as an investment with no license to do so. In the process of this they are making false claims to increase their sales.

4. If you currently hold dinar it is my goal that you are informed. I hope you will come to know that you have been scammed so that you can decide for yourself whether to keep it or sell it while you are still able to do so. You can sell it back to the dealers or you can sell it on eBay. I really don’t care. You won’t be able to sell it to banks. At least this is the case for my area and surrounding states. I know this because I tried to sell to the banks first.

5. My final goal is to expose every lie that made me invest in this currency in the first place. If I can provide the evidence and proof for the lies that circulate within the community then that will help people to make an educated decision and avoid the purchase of the dinar in the first place.

So now it is time to expose a common lie that circles within the dinar community. Here is an indictment that was handed down to the BH group. Notice some of the things that are in this indictment. I am taking this word for word.

The “BH Group” was formed by BRADFORD HUEBNER to market and sell the Iraqi official currency, the “dinar,” to individuals as an investment.  The BH Group offices are located

BRADFORD HUEBNER filed paperwork registering the BH Group as a money service business specializing in the sale of Iraqi dinar.

CHARLES N. EMMENECKER is a self-styled entrepreneur who resides in Sylvania, Ohio. In recent years, CHARLES EMMENECKER has primarily marketed and sold a health­ related beverage described as “Xango.”    In August 2010, CHARLES EMMENECKER merged his direct-marketing business with BRADFORD HUEBNER’s dinar business, which BRADFORD HUEBNER and MICHAEL TEADT were operating. By this time, BRADFORD HUEBNER had allied himself with a Jacksonville, Florida based resident by the name of RUDOLPH COENEN, in connection with marketing two non-existent “hedge funds” to both the BH Group’s dinar customers, as well as CHARLES EMMENECKER’s Xango distribution list.

MICHAEL TEADT entered into a conspiracy with BRADFORD HUEBNER regarding the sale oflraqi  dinar currency in July 2010.

5.  RUDOLPH M. COENEN is a resident of Jacksonville, Florida and holds himself out as a currency expert and former Vice President at JP Morgan Chase. RUDOLPH COENEN has variously claimed to be a former Marine who was wounded in combat during the first Gulf War, as well as a Purple Heart recipient. In fact, RUDOLPH COENEN worked for JP Morgan Chase for a total of one day as an Account Executive/Loan Officer and not as a Vice President, never served in the first Gulf War, was never wounded in combat, and never received a Purple Heart. RUDOLPH COENEN was instrumental in developing materially false and misleading statements regarding the Iraqi dinar currency and in falsifying information regarding the two non-existent hedge funds.

14. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, Executive Order 13303 which they alleged to protect the right of U.S. citizens who invest in Iraqi dinar currency.  In fact, Executive Order 13303 protects assets of the Development Fund of lraq (DFI) and other Iraqi assets from legal attachments or liens.  The Coalition Provisional Authority created the DFI in 2003 in order to promote the transparent use of Iraqi funds for purposes benefiting the people of lraq. Any assertion that Executive Order 13303 promotes, protects, or regulates the sale of, or investment in, Iraqi dinar is false.

15. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER,  and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, the U.S. Department of the Treasury holding the Iraqi dinar, further alleging the Department of the Treasury held trillions of lraqi dinar for investment purposes. In fact, the U.S. Department of the Treasury does not hold any Iraqi dinar for investment purposes and holds only a nominal amount for use in daily operations. It was further the purpose and object of the conspiracy that BRADFORD HUEBNER,

RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT and others known and unknown to the Grand Jury, would aggressively market the Iraqi dinar and the non-existent hedge funds, to the point where their customers numbered in the tens of thousands, both in the United States and in foreign countries, thereby greatly increasing gross revenues to over $24 million U.S. dollars in less than a two-year period. In addition, the Iraqi dinar gross sales were materially enhanced by the merger of BRADFORD HUEBNER’s dinar and hedge fund sales list with CHARLES EMMENECKER’s Xango distribution list.

Read the full indictment.

So here are two main lies that circle the dinar community and the forums.

1. The government has trillions of dinar and they are waiting for the RV

2. Executive order 13303 makes it legal to sell the dinar and the executive order protects the dinar.

So our proof that this is not true is the fact that the government is pursuing a fraud case in part based on these two statements! Let us add this to the other lies that we were able to debunk on this site.

Here are all the actual true statements that are based on the facts.

1. The dinar will not be used to sell oil.

2. The dinar will not be used to rebuild Iraq.

3. There has never been a Kuwaiti revalue!

4. The lower denominations for the RV are not already printed

5. The dinar will not be an international traded currency

6. Iraq is not reducing the money supply

7. The Dinar will not be a reserve currency

8. The US does not have trillions of dinar

9. Executive order 13303 does not make it legal to sell dinar and it does not protect the dinar holder.

I purchased dinar based on all these lies. You may have too. This does not make us suckers. It makes us victims. The factual information on these statements was not easy to find. It took me two years. If the government is successful in this case (and they will be) then I think the BH group will be the first of many other gurus and dealers to be called into account.

Now I would like to talk about just one more lie that the indictment addresses. Let me quote from the indictment itself

7.  The term “revaluation” (casually shortened to “RV” in dinar-sales parlance), refers to the contention that at some point in the near future, the dinar will rise against the U.S. dollar, a circumstance which will enrich earlier purchasers of the dinar. BRADFORD HUEBNER, CHARLES EMMENECKER, RUDOLPH COENEN and MICHAEL TEADT repeatedly advanced claims to potential investors over the telephone, through web pages, and through a weekly internet conference call that even relatively small investors in the dinar would, following the “revaluation” or “RV,” become wealthy overnight.

8.  A “redenomination” of the dinar refers to an actual proposal by the Central Bank of Iraq, announced as recently as June 21, 2011, to re-print the currency to remove three zeroes from the physical dinar banknotes as a matter of convenience. A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency’s value. Under a redenomination, a new currency replaces an old currency, but the value remains the same. Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars. The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar.

So according to the Federal Government, the dinar is not going to revalue or RV. It is going to redenominate! In fact the government is pursuing a major fraud case based on the fact that the dinar will never RV! What further proof does one need! THE DINAR IS A SCAM!!!!!

16 thoughts on “Lies, Deceit, and Denial

  1. Pingback: This is it for me | Iraq Currency Watch

  2. so many of my friends have invested in the dinars. They were trying to make me feel like I would miss out on the greatest opportunity I could ever have. I decided I would do research to see if they were right or if there was a reason I was getting a big red flag. After spending several hours reading and studying your materials I have come to the conclusion that I was more right than wrong.
    how does the chapter 7 that just happened effect this process?
    thank you for all the hard work and hours you put into this. thank your family too for you have helped so many people. maybe you are an economic Prophet sent to warn people. (just a thought.)


    • Elijah,

      Your friends are deceived and they fell for a major scam that is so complex that it is hard to detect exactly what is going on unless you are an economist. Your friends mean well. They want what is best for you. They are on a recruiting process because they are under the false assumption of prosperity. Unfortunately the dinar is not good for anyone.

      We were expecting the lifting of chapter 7 way back in 2010. Chapter 7 was always taking the blame for delaying the RV. It was also a hurdle for Iraq and kept them from joining the WTO. The RV was going to happen as soon as Iraq was lifted from Chapter 7. Iraq is out of chapter 7 and there is no RV. I suspect it will cause sales of the dinar to surge. Like I pointed out in my research, as people buy new dinar with US dollars those dollars make their way back to Iraq”s reserves at the CBI. I suspect that is one reason it took so long to be removed from chapter 7. I suspect Sales are down and therefore the real process that is getting ready to start has begun.

      These are not allegations they are suspicions, but Here is the way events will unfold. From here a short time will pass and people will begin to wonder why there is no RV. Iraq will begin to go through a redenomination process. They will introduce the new notes. This has already started.

      This process is slated to start towards the end of July or first part of august unless there is a delay. Once they start the redenomination process currency outside the borders will not be let through customs to enter the country again. You will need to go through banking institutions. The problem is the banks won’t take dinar. Some people may be able to go through Jordan or Kuwait and use those banks. but in most cases it will be hard to trade the currency in to regain any money at all. the common person here in the US is going to find great difficulty doing so.

      There will be a trade in period where people will be allowed to trade in the old notes for the new ones. Once this period expires the current notes that are being sold will be null and void. Once that happens millions of people who were suckered into this through the dealers will be very angry. When that happens dealers will close shop mainly for their own safety as customers who put their life savings into this lose everything. There will be cries for justice. The US may or may not act upon the dealers.

      You got to deal with Iraq directly to trade in your currency. It is illegal to export dinar from Iraq. Dinar is only meant to be used in Iraq and not as an international investment according to Iraqi law. They will rely on that law as a means to not honor the currency outside it’s borders. Yes they looked the other way while currency was exported. This was only because it resulted in U.S. dollars coming into their reserves. Once they redenominate they get to keep all that reserve money that has been imported by the export of their currency. By my calculations that is around 10 billion dollars.

      The lifting of chapter 7 paves the way for a redenomination not an RV. Once that is done then Iraq will become a member of the World Trade Organization. Their currency will rise in value over time to be around 1.13 to 1.17 after the redenomination process is complete. This is according to a report that was put out in Iraq by the minister of planing.

      This blog is up for people like you. It is meant to serve as a warning. I don’t consider myself a prophet. I am a researcher looking for the truth just like you.


  3. There have been a lot of people who have been deceived by this whole scam. Myself included. You can still sell your dinar and not take a total loss. That is what I did. You have two options. You can sell your dinar on eBay or you can sell it back to a dealer. At least you can regain some of your money.

    I use to post on Montana’s website when I believed in the investment. When I found out the truth I stopped posting there. You can find out more about Breitling here.

    You can find out more about Adam Montana here


  4. I found this site too late. At this point I have 500k in the small denoms so you know I paid premium for these notes. I read books authored by Nate Guerriero & John Jagerson but remain unconvinced of their respective arguments against the dinar investment. Marcus,seems your onto something here. Perhaps I got caught up in the hype & allowed myself to be deceived. I am a loyal follower of Breitling & Montana but I still do my own research(hence I found you). So,Iraq is to redenominate & investors around the globe stand to lose billions? This will break many hearts indeed.


  5. I like what you have written. There is one point that you have not taken into account. The fact that and investment is something to hold for the future…. long term or short term. The majority of people have a small amount of IQD… couple million worth a couple thousand dollars. If you get rid of it because they are following your views, then they are certain to lose at least 50%. Not that much of a lose…. The same holds true if you hold it and nothing ever happens or the CBI replaces the currency with new money and the old money is no good.

    Now, I believe they everyone should hold their IQD…..tuck it away somewhere and just wait. The IQD will be worth something someday. When? I don’t know and no one in the dinar communities know. Is it a gamble? Yes. If someone gambles their life savings on this, then they are stupid. I am just suggesting that what you may blow in Vegas on some weekend and most do, then a couple hundred dollars won’t kill you.


    • Mr. Curtis,

      I just wanted to take a minute to thank you for your research in uncovering the facts to help people make an informed decision. A few months ago a friend told me about the Iraqi Dinar revaluation and that it would occur soon. After much research, I was strongly considering investing in the Dinar. I then stumbled upon your site and my eyes were opened with the facts. Thanks again!



    • Ducky.

      The problem with your theory Ducky is that Iraq is going to redenominate their currency. When that happens everyone will have a limited time to trade in their notes. Once the time frame expires the notes everyone currently has in their possession well be deemed void. This will make them worthless. So if you do decide to invest long term and they redenominate then your out of luck. You lose everything.The current IQD will not be worth anything more then what it is worth right now. The CBI has stated that their plan is one of redenomination

      These are not simply my views. It is a fact that Iraq is going to redenominate. It is a fact that they will not RV the currency. It is a fact that they are going to lose money regardless of if people believe me or not. The only question is how much will they lose. Anyone still holding when this thing goes down is going to lose period end of story. I spent the last 12 or so blog posts proving this. Read the information provided.

      Here is an update

      A Jacksonville man pleaded guilty Thursday in an Ohio federal court to a scheme to defraud investors in the sale of Iraqi dinar currency and two non-existent hedge funds, authorities said.
      Rudolph M. Coenen, 47, pleaded to one count of conspiracy to commit wire fraud, one count of wire fraud and five counts of money laundering. His sentencing is scheduled for Aug. 12.


      So the federal government now has their first conviction based on the fact that there will be no RV and Iraq is going to redenominate!

      Personally I believe that everyone should do what they think best. If they want to hold it then hold it. I have an obligation to share the truth with my readers and that is what I will continue to do!


  6. Just found your site. So you and Chuckles from dinardater have cashed in your dinar. Does Scooter hope for a small return on the rv? Highlander was also a detailed researcher, has she thrown in the towel on this investment?


    • I have not talked with highlander in a long time. The last thing I heard from her was the fact that she believes it is going to redenominate. She hopes to make a profit off of the redenomination as she thinks it may redenominate on a sliding scale. She no longer believes she is going to make millions from this investment.

      I think there will be no change in value and there will not be a sliding scale. This is what the BH indictment says. I don’t know where scooter stands on the dinar. I don’t know how much he has. We don’t talk dinar anymore. We talk about world history and other topics. It has been about a few weeks since I talked with him. You will need to ask him where he stands. I can not speak for him.

      Yes chuckles and I have sold our dinar. I know a few people who use to be mods over at Adam Montana”s (James Wolf) site that also sold their dinar. I know all the mods from Dinar Dater sold their dinar and the site was shut down. I have been disconnected from the dinar community for a while so I don’t have a list of everyone who got out.

      The truth of the investment finally came to the surface. People can no longer dispute the facts. When I get hate e-mail or comments it is never based on what I said or what the facts seem to be.


      • Fear moves people in unexpected directions, but hate mail is pointless. I sent a message through on of the sites to Highlander, not sure that she will get it, and I haven’t seen a way to contact Scooter through his site. Curious about his take.

        Wondering at this point whether to cash in totally or hold some to see where the game goes. A few of my friends have invested and I want to be very clear about what I have learned, give them my opinion at this point and leave it for them to make their choices.

        I’m the one who has kept up with research so I do feel some responsibility to them and to my own thoroughness. Sam I Am sounds like he’s still in to some degree like Highlander. The world is such a money game these days that it kept me believing that there could be money made on this, and I thought Shabibi a talented economist who might get it there.

        Went to your music site and enjoyed listening to some of your work. Good luck to you with that.


      • I understand your position. There are people who have purchased the dinar after reading this blog. That is why I felt obligated to find the truth and present what I think the final outcome will be. That is why I feel obligated to keep this site up as the research speaks for itself.

        The best advice I can give you is to read through the BH indictment for yourself. Don’t take my word for anything. Look at my research. All the links you need are provided on this site. If I got something wrong I will gladly listen to what you have to say. I am not going to tell anyone to sell or buy. I only give my opinion on what I think will happen based on the facts.

        I have a great deal of respect for highlander and the many other friends I have made in the dinar community. The truth is we were all lied to about this investment. Exposing the lies has been my priority because those lies are what made me invest in the first place. Good luck with your future investments and if I can help you In any way let me know.


  7. I agree with much of what Marcus says. But he is also wrong on several points. Specifically #5, #6, #7 from his list. I have proof they are doing those things. So despite his efforts, he is wrong just like the gurus.


    • You do not have evidence to prove otherwise. I know this because I spent the last 3 years looking for it. You can disagree if you want to, but it is not based on evidence or fact. So let’s cover this point by point. I will do the most obvious one first.

      Point 6: Iraq is not reducing the money supply. It is still over 30 trillion. This information is found at the cbi website itself and you cannot refute that. In addition to that there have been articles claiming over 30 trillion in circulation. Now that is just the money outside of banks.

      Their M2 money supply is over 75 trillion! That is a lot of dinar for the Revalue. Even if the money outside of banks went down slightly and the M1 money supply went down just a little their M2 money supply has been increasing at a steady rate. This is not a reduction in the money supply. In previous articles I walk people step by step on how to check Iraq’s money supply. I would like to see any evidence you have to the contrary. They cannot RV like the gurus and forums say they will with more than 1 to 5 trillion max in circulation total. That is including M2.

      Point 7: Right now the dollar is the chief reserve currency. The Euro is in big trouble. So the claim is the Dinar will replace the dollar? It is true that right now countries are losing faith in the dollar due to our national debt, but the one thing the dollar has going for it is the fact that there’s not another currency out there to take its place! The dollar is the only thing. If and when they do find a replacement it won’t be a currency from a third world nation. I can promise you that!

      Point 5:The assumption that the dinar will be internationally traded is based on the assumption that it will also RV. As the indictment against the BH group points out This is fraud! People making money off of this and telling these lies are committing fraud! A major case is under prosecution right now!

      Internationally traded and reserve currency is really almost the same thing. Reserves are traded among countries because they can be used to buy oil and other goods. countries will not hold any Iraqi dinar for reserve purposes.They will hold only a nominal amount for use in daily operations. This means people who travel to iraq will need a way to exchange their currency to dinar. They will hold enough to to operate that exchange.

      I would like to see any thing that you have to prove otherwise. I am pretty confident it is not out there. Let’s see your proof! It cannot be a secret source or some inside person. This is the same flawed evidence that all gurus pass around. It has got to be actual documentation from a viable source that everyone here can go to and see for themselves outside of forums. After all that is the kind of factual evidence I supply to support my conclusions

      If you disagree with points 5,6, and 7 then you disagree with the facts unless you can prove otherwise. The burden of proof now lies with you!


  8. In the end people will believe what they want and many who have grabbed onto the Dinar as their ticket to wealth will not want to give that up. But I hope at least they can understand that arithmetic is not a matter of belief or opinion. The fact that a huge overnight increase in Iraq’s exchange rate is not possible is not a matter of estimating future foreign policy, or trade relations or economic development or secret conspiracies or anything of that sort. Its just arithmetic.


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